A newly released survey from CNBC ranks New York State dead last in business friendliness in the United States.
The survey assessed perceived business friendliness based on the legal climate and state regulations. South Dakota ranked highest, followed by New Hampshire, Virginia, North Dakota, and Indiana.
The survey reaffirms the link between lawsuits and a state’s business climate. States such as New York and New Jersey which rank poorly in business friendliness also have costly and unpredictable legal climates. A 2010 report by the Pacific Research Institute on individual states’ tort climates ranked New York 49th out of 50, while New Jersey ranked 50th.